This is the second round of financing extended by InnoVen Capital to Yatra, which will use the funds for its growth and diversification. Previously, it had extended a $4 million venture debt facility to Yatra in 2013.

“After having raised $92 million through our Nasdaq listing in December 2016, this debt funding provides us additional capital for our growth needs,” said Alok Vaish, chief financial officer, Yatra.

According to the venture firm, larger ticket sizes is one of the areas where they can leverage their platform, and the company is looking at average ticket sizes of around $10 million.

The firm entered India in 2008 as the first dedicated venture debt provider in the country, which was then the part of US-based Silicon Valley Bank. In January 2015, Singapore’s state-owned investment firm Temasek acquired the Indian venture debt business of Silicon Valley Bank for around Rs 280 crore.

The platform, now present across India, China, and South-East Asia, has provided over 165 loans to more than 120 start-ups across various stages and geographies, including Oyo Rooms, Swiggy, Pepperfry, Shopclues, Byju’s, Freecharge, Myntra, Firstcry, Capillary and Practo in India and 123RF, RedDoorz, M17 Entertainment and Away in South-East Asia.

InnoVen Capital, the largest venture debt player in the space, along with domestic venture debt fund Trifecta Capital compete with IntelleGrow, all having ramped up their pace of lending over the past year.

Founded in 2006 by Dhruv Shringi, Manish Amin, and Sabina Chopra, Yatra provides information, pricing and booking capability for domestic and international air travel, hotel bookings, holiday packages, and bus and railway reservations.